|  |  |
| --- | --- |
|   | 
owing to Lessor, or any affiliate company of Lessor, by reason of any note, lease or other instrument or obligation, and no event of default is continuing
under any contractual commitment of Lessee to Lessor or its affiliate companies. Lessee hereby authorizes Lessor to apply all or applicable portions of the Security Deposit to be refunded hereunder in accordance with any other written agreement or
written instruction signed by an authorized representative of Lessee.  |

  




|  |  |
| --- | --- |
| 2.5 | If any payment due hereunder to Lessor by Lessee is delayed, directly or indirectly, by Lessee’s action or inaction, then such delayed payment shall be subject to interest at
1.25 times the prime interest rate charged by Bank of America (New York, N.Y.) during the period of such nonpayment.  |

 ARTICLE 3: AIRCRAFT
SELECTION 

  




|  |  |
| --- | --- |
| 3.1 | Lessee acknowledges and agrees that (i) the Aircraft selected to be leased hereunder is of the quality, size, design, capacity and manufacture selected by Lessee in its sole
discretion; and (ii) Lessee is satisfied that the Aircraft selected is suitable for Lessee’s purposes.  |

 ARTICLE 4: LESSEE’S
FINAL ACCEPTANCE OF AIRCRAFT 

  




|  |  |
| --- | --- |
| 4.1 | Lessor shall offer the Aircraft for delivery to Lessee at Lessee’s facility in Cheyenne, Wyoming, in accordance with the following procedure:  |